Telemark Asset Management LLC cut its stake in shares of American Superconductor Corporation (NASDAQ:AMSC – Free Report) by 10.2% in the 4th quarter, Holdings Channel reports. The firm owned 619,900 shares of the technology company’s stock after selling 70,100 shares during the quarter. American Superconductor comprises approximately 1.8% of Telemark Asset Management LLC’s holdings, making the stock its 15th biggest position. Telemark Asset Management LLC’s holdings in American Superconductor were worth $17,841,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Lodestone Wealth Management LLC acquired a new position in shares of American Superconductor during the fourth quarter worth approximately $30,000. Canada Pension Plan Investment Board boosted its position in shares of American Superconductor by 100.0% during the second quarter. Canada Pension Plan Investment Board now owns 2,000 shares of the technology company’s stock worth $73,000 after buying an additional 1,000 shares during the period. State of Wyoming acquired a new position in shares of American Superconductor during the fourth quarter worth approximately $87,000. Stance Capital LLC acquired a new position in shares of American Superconductor during the third quarter worth approximately $155,000. Finally, State of Alaska Department of Revenue boosted its position in shares of American Superconductor by 192.8% during the fourth quarter. State of Alaska Department of Revenue now owns 6,146 shares of the technology company’s stock worth $176,000 after buying an additional 4,047 shares during the period. 52.28% of the stock is owned by institutional investors.
American Superconductor Trading Down 8.7%
American Superconductor stock opened at $42.34 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 14.11 and a beta of 3.20. The company’s 50-day moving average price is $45.24 and its two-hundred day moving average price is $36.20. American Superconductor Corporation has a 52 week low of $24.87 and a 52 week high of $70.49.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on AMSC shares. Zacks Research downgraded American Superconductor from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings upgraded American Superconductor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.
Check Out Our Latest Analysis on American Superconductor
American Superconductor Company Profile
American Superconductor Corporation (NASDAQ:AMSC) is a technology company specializing in power electronics and high-temperature superconductor systems. Founded in 1987 and headquartered in Devens, Massachusetts, AMSC develops hardware and software solutions aimed at improving the efficiency, reliability and stability of electric power systems and renewable energy infrastructure. The company’s engineering expertise spans from the lab scale to full commercial deployment, with a focus on tackling grid integration challenges for utilities and independent power producers.
AMSC’s portfolio includes superconducting wire and cryogenic systems, power grid stabilization devices, and turnkey wind turbine electronics.
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